Top 10 Crypto Trading Tools You Should Know Before Your First Trade

Cryptocurrencies have made headlines in recent years, with Bitcoin reaching an all-time high. According to a report the number of global cryptocurrency users has increased and over 250+ million people are now using cryptocurrencies. With the rise of digital currencies, more and more people are entering the world of crypto trading. Cryptocurrency trading has become a popular way for people to make money, but it can be scary for newcomers. Cryptocurrency markets are highly volatile, and trading requires a lot of knowledge and skill. However, there are tools that can make trading easier and more efficient. In this blog, we will discuss the top 10 crypto trading tools that you should know before your first trade.

“Trade smarter, not harder with these top 10 crypto trading tools”

1. TradingView

TradingView is a popular online platform for traders and investors that offers a wide range of tools for technical analysis and market monitoring. With its customizable charts and real-time market data, TradingView is a valuable tool for anyone looking to stay on top of the latest developments in the cryptocurrency markets. The platform also allows users to connect with other traders and share their ideas and strategies, making it a great resource for collaborative learning and idea generation. Whether you are a beginner or an experienced trader, TradingView is a must-have tool for anyone serious about crypto trading.

Visit Website : tradingview.com

2. CoinMarketCap

CoinMarketCap is one of the most popular and widely-used cryptocurrency tracking websites in the world. It provides real-time market data for thousands of cryptocurrencies, including prices, trading volumes, and market capitalizations. With its powerful filtering and sorting tools, traders can quickly and easily find the information they need to make informed investment decisions. CoinMarketCap also offers a range of educational resources, including guides and tutorials on cryptocurrency trading and investing. Whether you are a seasoned pro or just getting started, CoinMarketCap is an essential tool for anyone looking to succeed in the world of crypto trading.

Visit Website : coinmarketcap.com

3. CryptoSlate

CryptoSlate is a leading source of news and information on the cryptocurrency industry. It provides real-time updates on market trends, price movements, and regulatory developments, making it an essential tool for crypto traders. In addition to news and analysis, CryptoSlate also features a comprehensive database of cryptocurrencies, exchanges, and ICOs, as well as a range of educational resources for traders and investors. With its extensive coverage and user-friendly interface, CryptoSlate is a valuable resource for anyone looking to stay on top of the ever-changing world of cryptocurrency trading.

Visit Website : cryptoslate.com

4. CryptoTrader.Tax

CryptoTrader.Tax is a tax reporting platform for cryptocurrency traders. It allows users to easily import their trading data from various exchanges, generate tax reports and file their taxes. With its user-friendly interface and accurate calculations, CryptoTrader.Tax simplifies the tax reporting process for crypto traders. The platform also offers a range of tax planning tools to help traders optimize their tax penalties.

Note: CryptoTrader.Tax has now rebranded to coinledger.io, which offers all these features and also with added advanced tax reporting features for cryptocurrency traders.  

5. Blockfolio

Blockfolio is a popular mobile app for tracking cryptocurrency prices and portfolio management. It allows users to view real-time price updates for thousands of cryptocurrencies, set price alerts and manage their holdings across multiple exchanges. Blockfolio also offers a news section that provides the latest updates from the cryptocurrency industry. With its user-friendly interface and extensive features, Blockfolio is a useful tool for both beginners and experienced crypto traders.

6. Bitcointalk

Bitcointalk is one of the most established and well-known cryptocurrency forums. It is a valuable resource for traders looking to learn from the experiences of others and stay informed about the latest developments in the industry. Bitcointalk is also a valuable platform for traders to share their knowledge and trading strategies with the community.

Visit Website : bitcointalk.org

7. CoinTracking

CoinTracking is a powerful portfolio management tool for cryptocurrency traders. It allows you to track your trades and monitor your portfolio across multiple exchanges and wallets. With advanced features like real-time profit and loss calculations and customizable reports, CoinTracking provides a comprehensive overview of your crypto investments. Overall, CoinTracking is an essential tool for traders looking to manage their crypto portfolios with ease and precision.

Visit Website : cointracking.info

8. Coingapp

Coingap is a mobile app that alerts you to price discrepancies across multiple exchanges. With the Coingapp, you can find opportunities to buy cryptos low on one exchange and sell high on another, potentially making a profit in the process. This app supports over 20+ popular exchanges and it offers real-time updates on market data. Coingapp is compatible with iOS and Android devices.

9. Trading Bot

A trading bot is a computer program that uses predefined rules and algorithms to automatically execute trades on a cryptocurrency exchange. The bot monitors market conditions and can place trades faster and more efficiently than a human trader. Trading bots can be customized to suit a wide range of trading strategies, such as arbitrage, scalping, and trend following. Using a trading bot can help improve trading efficiency and profitability. There are plenty of crypto trading bots available for eg: Zenbot, Cryptohopper, 3Commas, Gunbot, TradeSanta, Blackbird Bitcoin Arbitrage, and more.

10. Wallets

Wallets are digital storage spaces that allow you to securely store and manage your cryptocurrencies. They are classified into two types: hot wallets and cold wallets. Hot wallets are connected to the internet, making them more convenient but less secure. Cold wallets, on the other hand, operate offline and provide greater security while being less convenient. Some popular wallets for crypto trading include Exodus, Coinbase, MetaMask, Trust Wallet, Ledger, Trezor, and more. When choosing a wallet, it's essential to consider factors such as security, ease of use, and supported cryptocurrencies.

Conclusion

Cryptocurrency trading is an exciting and lucrative opportunity, but it requires knowledge, skill, and the right tools to succeed. The top 10 crypto trading tools mentioned above are all excellent resources that can help traders stay informed, manage their portfolios, automate trading, and minimize risks. Whether you're a beginner or an experienced trader, you should consider using these tools to enhance your trading experience and achieve your goals. And if you're planning to launch your cryptocurrency exchange, you should definitely check out Bitdeal, a reliable cryptocurrency exchange development company that offers robust and customizable cryptocurrency exchange scripts to help you build your own exchange platform quickly and securely. With the right tools and strategies, you can make your mark in the cryptocurrency trading world and reap the rewards of this exciting market.